Reading West Development Limited 10492164 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is in the year under review was that of property development Digita Accounts Production Advanced 6.30.9574.0 true true 10492164 2022-10-01 2023-09-30 10492164 2023-09-30 10492164 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 10492164 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 10492164 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 10492164 bus:SmallEntities 2022-10-01 2023-09-30 10492164 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 10492164 bus:FullAccounts 2022-10-01 2023-09-30 10492164 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 10492164 bus:RegisteredOffice 2022-10-01 2023-09-30 10492164 bus:Director1 2022-10-01 2023-09-30 10492164 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 10492164 bus:Agent1 2022-10-01 2023-09-30 10492164 core:LandBuildings 2022-10-01 2023-09-30 10492164 countries:EnglandWales 2022-10-01 2023-09-30 10492164 2022-09-30 10492164 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 10492164 2021-10-01 2022-09-30 10492164 2022-09-30 10492164 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 10492164 core:Non-currentFinancialInstruments core:AfterOneYear 2022-09-30 10492164 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 iso4217:GBP xbrli:pure

Registration number: 10492164

Reading West Development Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Reading West Development Limited

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Reading West Development Limited

Company Information

Director

P Patel

Registered office

79 Park Lane
Croydon
Surrey
CR0 1JG

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Reading West Development Limited
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Reading West Development Limited for the year ended 30 September 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Reading West Development Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Reading West Development Limited and state those matters that we have agreed to state to the Board of Directors of Reading West Development Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Reading West Development Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Reading West Development Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Reading West Development Limited. You consider that Reading West Development Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Reading West Development Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

19 March 2024

 

Reading West Development Limited

(Registration number: 10492164)
Statement of Financial Position as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

416,203

416,203

Current assets

 

Stocks

5

660,474

-

Cash at bank and in hand

 

106,359

84

 

766,833

84

Creditors: Amounts falling due within one year

6

(445,601)

(430,602)

Net current assets/(liabilities)

 

321,232

(430,518)

Total assets less current liabilities

 

737,435

(14,315)

Creditors: Amounts falling due after more than one year

6

(800,000)

-

Net liabilities

 

(62,565)

(14,315)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(62,566)

(14,316)

Shareholders' deficit

 

(62,565)

(14,315)

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 19 March 2024
 

 

Reading West Development Limited

(Registration number: 10492164)
Statement of Financial Position as at 30 September 2023 (continued)

P Patel
Director

   
     
 

Reading West Development Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
79 Park Lane
Croydon
Surrey
CR0 1JG
England

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest Pound.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Reading West Development Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Freehold property

Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

 

Reading West Development Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 October 2022

416,203

416,203

At 30 September 2023

416,203

416,203

Depreciation

Carrying amount

At 30 September 2023

416,203

416,203

At 30 September 2022

416,203

416,203

Included within the net book value of land and buildings above is £416,203 (2022 - £416,203) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Work in progress

660,474

-

 

Reading West Development Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

15,000

-

Other creditors

430,601

430,602

445,601

430,602

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

800,000

-